02.21.24
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) issued a procedural rule revising its supervisory appeals process for the first time since 2015.
12.21.23
In a complaint filed in federal court, the Federal Trade Commission (FTC or Commission) has alleged that Rite Aid used facial recognition technology in its stores without taking reasonable steps to prevent harm to consumers who were falsely accused by employees of shoplifting or other criminal ...
On December 20, the Federal Trade Commission (FTC) proposed its first significant updates to the Children’s Online Privacy Protection Act (COPPA) in a decade.
11.16.23
In a significant development for state nonmember banks with assets of at least $10 billion (Covered Institutions), the Federal Deposit Insurance Corporation (FDIC) has recently proposed comprehensive corporate governance and risk management guidelines (NPR) that would impose significant ...
11.14.23
On October 26, a Texas District Court issued an expanded injunction preventing the CFPB from implementing and enforcing its small-business data collection rule issued under Section 1071 of the Dodd-Frank Act, so that it now benefits all companies subject to the rule.
09.14.23
On September 8, 2023, the U.S. District Court for the Eastern District of Texas issued an opinion and order vacating a March 2022 anti-discrimination update to the UDAAP section of the Consumer Financial Protection Bureau’s (“CFPB” or “Bureau”) Supervision and ...
09.11.23
The Consumer Financial Protection Bureau’s (CFPB or Bureau) Summer 2023 Supervisory Highlights, which discusses key examination findings between July 2022 and March 2023, underscores the Bureau’s continuing aggressive interpretations of its authority.
08.21.23
After being the first state to impose disclosure requirements on small business finance transactions, California has now added an annual reporting requirement and subjected commercial finance companies to UDAAP claims.
07.14.23
A recent decision by the U.S. Supreme Court will encourage forum shopping by enterprising plaintiffs, particularly to out-of-state jurisdictions where a defending business has few or no contacts.
10.24.22
On October 19, 2022, the Fifth Circuit sent shock waves through the financial world, ruling that the Consumer Financial Protection Bureau’s independent funding structure violates the U.S. Constitution’s Appropriations Clause.